National Assembly passes W5.8tr extra budget bill

South Korea's parliament passed a 5.83-trillion won ($4.9 billion) extra budget bill Friday, supporting the government's efforts to prop up the slowing economy and tackle Japan's export curbs against Seoul.During a plenary meeting, the National Assembly approved the budget bill in a 196 to 12 vote, with 20 abstentions. Rival parties earlier agreed to cut the proposed fiscal spending by a net 860 billion won from the government's April proposal of 6.7 trillion won.The extra budget -- more than ha

PoliticsAug. 2, 2019

Parliament passes resolution urging Japan to withdraw export curbs

The National Assembly on Friday passed a resolution calling on Japan to immediately withdraw its export curbs against South Korea in a unanimous vote during a plenary meeting. The parliament also passed a resolution condemning an air incursion by Russian and Chinese warplanes and Japan's territorial claim to the South's easternmost islets of Dokdo.The move came after Tokyo approved the removal of South Korea from a "whitelist" of trusted trading partners at a Cabinet meeting earlier in

PoliticsAug. 2, 2019

Can S. Korea’s military intercept NK missiles?

As North Korea has fired several short-range projectiles and ballistic missiles on multiple occasions recently, concerns are growing on whether South Koreal’s military would be able to intercept them. Pyongyang fired two unidentified short-range projectiles on Friday, the third launch to come in eight days. According to Seoul’s Joint Chiefs of Staff, the projectiles, which Cheong Wa Dae says are probably ballistic missiles, flew 220 kilometers into the East Sea at the speed of Mach 6

North KoreaAug. 2, 2019

South Korean anti-bullying campaigner wins Asia's 'Nobel prize'

A campaigner who tackles youth suicide in South Korea, two journalists, and a human rights activist were named Friday among the winners of Asia's equivalent of the Nobel Prize, the Ramon Magsaysay Award.Kim Jong-ki, whose 16-year-old son took his life after being bullied in school, received the 2019 award for helping South Korea face one of the developed world's highest suicide rates. Kim, 72, was recognised for "his quiet courage in transforming private grief into a mission to protect Kore

World NewsAug. 2, 2019

S. Korea to exclude Japan from trade whitelist in retaliation

South Korea plans to exclude Japan from its own whitelist in response to Tokyo’s decision on Friday to remove as a preferred trading partner, as bilateral relations have slumped to the lowest levels since normalizing diplomatic ties in 1965.“The government will resolutely take corresponding measures against Japan’s unjust economic retribution. ... As we have warned earlier, if (Japan) intentionally hits our economy, it must be prepared for greater damages,” President Moon

IndustryAug. 2, 2019

N. Korea intends to host World Cup qualifier vs. S. Korea

North Korea has expressed its intention to hold a World Cup qualifier with South Korea in Pyongyang, the South's football governing body said.According to the Korea Football Association on Friday, the North Korean football federation sent a document to the Asian Football Confederation saying it will host the match at Kim Il-sung Stadium in Pyongyang at 5:30 p.m. on Oct. 15. In a draw for the AFC second round of 2022 FIFA World Cup qualification held last month, South Korea and North Korea were p

SoccerAug. 2, 2019

Teen missing for 10 days found alive on Cheongju mountain

A teenage girl reported missing 10 days ago has been found alive, local authorities said Friday. A senior military officer taking part in the search with police and rescue workers found Cho Eunnuri on a mountain in Cheongju, 140 kilometers south of Seoul, around 2:40 p.m. Police said Cho, who was found with the help of a search dog, was fully conscious when discovered by the rescue team. The 14-year-old was then taken to a nearby hospital.  Doctors at the hospital said Cho's condition was b

Social AffairsAug. 2, 2019

S. Koreans slam Japan’s ‘whitelist’ decision, vow all-out boycott

South Korean citizens and civic groups on Friday lashed out at Japan’s decision to remove their country from a “whitelist” of countries with preferential trading status and called on the Korean government to take stern action against it.  　An association of 682 progressive civic groups, including the Korean Confederation of Trade Unions, called Japan’s move an “attack” on Korea’s economy and a threat to peace at a press conference held in front of t

Social AffairsAug. 2, 2019

S. Korea to reconsider military info-sharing deal with Japan: Cheong Wa Dae

Cheong Wa Dae confirmed Friday that it would review whether to continue exchanging military information with Japan, a key element in tripartite security cooperation with the United States.Kim Hyun-chong, the deputy national security advisor, said the reconsideration could be part of "comprehensive countermeasures" against Tokyo for its decision to remove Seoul from the "whitelist" of more than two dozen nations that enjoy minimized procedures when importing Japanese goods. Ja

Foreign AffairsAug. 2, 2019

S. Korean political parties rebuke Japan's 'whitelist' decision

South Korean political parties strongly condemned Japan's decision to remove South Korea from a list of preferred trade partners Friday, with the ruling party calling the move an "economic invasion." But rival parties differed over the government's future response to Japan's move. The ruling Democratic Party raised the possibility of South Korea scrapping its military intelligence-sharing pact with Japan while the main opposition party stressed the need to seek diplomatic solutions.Ear

PoliticsAug. 2, 2019

Construction resumes at S. Korea's THAAD base

The South Korean and US militaries began construction to improve an accommodation facility within the base of an advanced US missile defense system in the southeastern province of North Gyeongsang on Friday.The Terminal High Altitude Area Defense system was installed on a golf course-turned-military base in Seongju, about 300 kilometers southeast of Seoul, in 2017, as part of efforts to counter missile threats from North Korea. The South Korean and US militaries have since conducted various cons

DefenseAug. 2, 2019

Seoul stocks dip to 7-month low, Korean won sinks amid escalating trade tensions

South Korean stocks sank to finish below the psychologically important 2,000-point threshold Friday, by falling 1 percent, in the face of escalating trade tension between its two largest trading partners, and its own with Japan.The Korean won fell sharply against the US dollar.The benchmark Korea Composite Stock Price Index shed 19.21 points, or 0.95 percent, to 1,998.13, the lowest in seven months. Trading volume was low at 427 million shares worth 5.21 trillion won ($4.34 billion), with losers

MarketAug. 2, 2019

SK Telecom’s operating profit slips 7% in Q2

SK Telecom said Friday its operating profit fell due to increased spending for 5G service marketing and infrastructure buildup.Its operating profit came to 322.8 billion won ($270.7 million) in the April-June period, a 6.9-percent fall from a year ago, the nation's leading mobile carrier said in a regulatory briefing. SKT said its sales gained 6.8 percent on-year to 4.4 trillion won, led by solid profit growth from its media business.The firm's net income tumbled 71.7 percent to 259.1 billi

IndustryAug. 2, 2019

S. Korea’s imports of 857 items to come under Japan’s tighter permit system

Following Japan’s decision on Friday to delist South Korea from its whitelist of trusted trade partners, domestic companies importing 857 items including hi-tech materials will come under tighter rules for export approval. The items categorized as “nonsensitive” in the list of Japan’s strategic materials include precision machine tools and fine chemical products, such as functional films and adhesives, as well as carbon fiber which is used to produce aircrafts and au

IndustryAug. 2, 2019

Police investigate assault of Uzbek migrant

The police said Friday that they have launched an investigation into an assault case amid growing public outrage as a video went viral showing a migrant from Uzbekistan being beaten by a Korean manager at a farm.  In the video, which was posted on social media, the supervisor verbally and physical assaulted the foreigner, who was asking for gloves at the farm. “Get on with your work before I kill you,” the Korean shouted, which was filmed by a Uzbek student studying in here. &ld

Social AffairsAug. 2, 2019

Full text of President Moon Jae-in’s statement on Japan’s latest trade curbs

Unofficial edited translation provided by Cheong Wa Dae 　This Cabinet meeting has been urgently convened to respond to the diplomatic and economic emergency situation.The Japanese government has decided to remove South Korea from its whitelist of trading partners. This is a very reckless decision that rebuffs the diplomatic efforts to resolve the problem and further exacerbates the situation. I express profound regret.Ultimately, the Japan dismissed Korea’s proposal to put our heads togeth

Foreign AffairsAug. 2, 2019

Seoul says N. Korea fires two short-range projectiles, third launch in 8 days

North Korea fired two unidentified short-range projectiles from the east coast Friday in the early morning hours, Seoul’s military said. It is the third time in eight days that the regime has launched projectiles into the East Sea.The projectiles, which the South’s presidential office said were probably “new short-range ballistic missiles,” were fired from the Yonghung area in South Hamgyong Province, north of Wonsan, Kangwon Province, according to Seoul’s Joint Chi

North KoreaAug. 2, 2019

How will import process change with Japan’s whitelist exclusion of Korea?

South Korean manufacturers of cutting-edge electronic components are likely to face increasing costs and burden of securing hi-tech materials and parts from Japan following the decision to remove the country from its whitelist of entrusted trade partners. Korean companies that purchase any of the 1,194 items designated as strategic materials from Japan will now be required to submit extra documents including export approval, the final users’ covenants and reasons for imports. As many as 85

IndustryAug. 2, 2019

Korean firms brace for worse situation after Japan’s delisting

The top-tier tech companies in South Korea, including Samsung Electronics and SK hynix, have their hearts in the mouth after Japan voted Friday to remove the country from its whitelist of countries that enjoy preferential trade treatment.The semiconductor industry sees the current situation as an “unprecedented emergency” that could directly hit productivity, especially now during a market downturn. “The delisting decision is making matters even worse for the chipmaking industr

TechnologyAug. 2, 2019

President Moon warns of retaliation, urges Japan to negotiate

President Moon Jae-in on Friday warned that Seoul will “resolutely take corresponding measures” against Japan’s move to remove South Korea from its list of trusted trade partners. Earlier in the day, the Japanese government decided to remove Korea from the whitelist of countries that receive preferential treatment in importing materials and goods from Japan. “(I) express deep regret at the reckless decision that makes the situation worse, while refusing diplomatic ef

Foreign AffairsAug. 2, 2019